Mark Zuckerberg Sells Almost $190 Million in Meta Stock

San Francisco: The media said that last month, Meta’s founder and CEO, Mark Zuckerberg, sold almost $190 million worth of the company’s shares

.

Market Watch claims that Zuckerberg sold 560,180 Meta shares last month, one share per day.

On November 29, he submitted orders to sell an additional 28,009 shares, according to Form 4 filings with the US Securities and Exchange Commission (SEC).

According to the article, if the stock closes at $327.15, the value of the shares sold would be $192.9 million.

A “founder stock purchase” was used to purchase the majority of the shares that were sold in 2004.

As to the report, around 150,000 shares were obtained for $0 on the days when they were sold as a result of executing options that were purchased in 2013.

Compared to the same period last year, Meta’s sales increased by 23% to $34 billion in the third quarter.

In the September quarter, total costs and expenditures were $20.40 billion, a 7% (year over year) decline. The quarter’s net income of $11.58 billion represented a 164% increase over the same period last year.

But the company’s Reality Labs segment continues to drain cash, and Meta anticipates a “meaningful” yearly rise in operational losses there.